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Argentina Freezes Assets in LIBRA Memecoin Fraud Investigation
- A recent decision by Argentina involved freezing assets in the LIBRA Memecoin fraud investigation, which is linked to potential fraudulent activities associated with the digital token's promotion.
- The investigation revolves around suspicions of a pump-and-dump scheme concerning LIBRA, particularly following President Javier Milei's public endorsement of the memecoin in February, which resulted in a significant increase in market capitalization but subsequent drastic devaluation, raising concerns of market manipulation and fraud.
- Judge María Servini issued the ruling on May 14, authorizing the lifting of banking secrecy for Milei and his sister to examine their financial transactions for any possible irregularities or connections to the memecoin's promoters.
- Surveillance footage has brought to light questionable activities related to safety deposit boxes rented by a central figure in the scheme, with suspicions of cash involvement, as well as connections between the project's development and a foreign financier, Hayden Davis, with an Interpol notice issued for his arrest.
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